Utility u* Copyright © McGraw-Hill Education. Permission required for reproduction or display. 1.5 2 2.5 4 Workers (millions) Consider the figure above. Suppose that there are 12 million workers in the region. Suppose that these 12 million workers are distributed across 6 cities with 2 million workers each, so that every worker has the same level of utility regardless where they live. Why is this distribution unstable? A) A small deviation (one worker moving to another city) will cause the economy to move to a different configuration. B) Diseconomies of agglomeration are so significant that it pushes the population into smaller cities 6 cities with 2 million workers actually is stable! D The adding up constraint is not satisfied.

Utility u* Copyright © McGraw-Hill Education. Permission required for reproduction or display. 1.5 2 2.5 4 Workers (millions) Consider the figure above. Suppose that there are 12 million workers in the region. Suppose that these 12 million workers are distributed across 6 cities with 2 million workers each, so that every worker has the same level of utility regardless where they live. Why is this distribution unstable? A) A small deviation (one worker moving to another city) will cause the economy to move to a different configuration. B) Diseconomies of agglomeration are so significant that it pushes the population into smaller cities 6 cities with 2 million workers actually is stable! D The adding up constraint is not satisfied.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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